49. How to build a business that spans generations

With Dr. Joseph Legg II, DMD

In a profession as deeply personal as small business ownership, it's no wonder that so many small businesses are passed from parent to child.

However, we all know family dynamics can be complex.

If you haven't clearly defined and agreed upon your roles, hierarchy, and succession plan, a business that spans generations may quickly reach its expiration date.

Meet our guest

In this episode, we're hearing from the son of a father-son duo of endodontists about what he’s learned from being in business with his father and his tips for successfully establishing a multi-generational business.

Our guest, Dr. Joseph Legg II, bought MicroSurgical Endodontics of NEPA from his father, Dr. Joseph Legg, who has practiced endodontics for over three decades in Northeastern Pennsylvania.

In this episode

What inspires a son to purchase his father's business
What it means to build a legacy in small town USA
How to ensure a smooth transition of ownership
Why it's important to seek external advice from industry experts
The benefits and challenges of operating a multi-generational business

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